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Australian Copper Conference

March 2011

ASX Code: TLM

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Disclaimer and Competent Person’s Statements

Disclaimer

This presentation is not a prospectus nor an offer for securities in any jurisdiction nor a securities recommendation. The information in this presentation

is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any

acquisition of securities, investors should rely on their own examination of Talisman Mining Ltd (Talisman Mining or the Company) and consult

their own legal, business and/or financial advisers.

The information contained in this presentation has been prepared in good faith by Talisman Mining Ltd, however no representation or warranty

expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, opinions or other information

contained in this presentation. To the maximum extent permitted by law, Talisman Mining Ltd, its directors, officers, employees and agents disclaim

liability for any loss or damage which may be suffered by any person through the use or reliance on anything contained in or omitted from this

presentation.

Certain information in this presentation refers to the intentions of Talisman Mining Ltd , but these are not intended to be forecasts, forward looking

statements or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the

future are subject to risks, uncertainties and other factors that may cause Talisman Mining Ltd’s actual results, performance or achievements to differ

from those referred to in this presentation. Accordingly, Talisman Mining Ltd, its directors, officers, employees and agents do not give any assurance or

guarantee that the occurrence of the events referred to in the presentation will actually occur as contemplated.

Competent Person’s Statement

Information in this presentation that relates to Exploration Results and Mineral Resources is based on information compiled by Mr Harry Cornelius, who

is a member of the Australasian Institute of Mining and Metallurgy. Mr Harry Cornelius is a full time employee of Talisman Mining Ltd and has sufficient

experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken to qualify as a

Competent Person as defined in the 2004 Edition of the “Australian Code for Reporting of Mineral Resources and Ore Reserves”. Mr Harry Cornelius

consents to the inclusion in this presentation of the matters based on information in the form and context in which it appears.

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Talisman Overview

Key focus is the highly prospective Bryah Basin

Volcanogenic Massive Sulphides (VMS) copper-gold

region:

Located on the doorstep of Sandfire’s DeGrussa

high grade copper discoveries

Springfield has the same sequence of volcanic

rocks which host the DeGrussa VMS system

Visible chalcopyrite observed in drill core

Clear and systematic exploration approach at

Springfield:

working to efficiently unlock its potential

Strong cash platform of~ $47M following sale

of non-core iron assets

Experienced management with successful

exploration and corporate track record

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Talisman OverviewF

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2011 – The Road Ahead

$10M exploration budget for 2011

Drilling has recommenced at Springfield &

is planned to continue throughout the year

Acceleration of assessment of regional

Bryah Basin Projects

Cashed up and looking for additional

quality growth opportunities

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Corporate Summary

Capital Structure

Shares

Unlisted Options

Market Cap

(Undiluted @ 79cents per share)

Cash

Substantial Shareholders

Kerry Harmanis

Management

Gary Lethridge (Managing Director)

Peter Langworthy (Executive Director)

Brian Dawes (Executive Director)

Harry Cornelius (Chief Geologist)

Dan Madden (Chief Financial Officer)

130.4M

14.6 M

$ 103 M

$ 47 M

12.8%

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Bryah Basin Region Exploration Portfolio

Strategic regional footprint ~1520km²

Targeting: Emerging VMS Camp in Bryah Basin

Large Scale Ni, Cu, Au Deposits in Gascoyne Region

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Springfield Project – “The Opportunity”F

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Springfield Project – “The Opportunity”F

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Springfield Project – “The Opportunity”F

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Springfield Project – “The Opportunity”F

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Northern Projects – Shelby/Milgun

Giant Province Scale Exploration Project - Targeting intrusive related IOCG and Ni-Cu-PGE Deposits

“First Mover Opportunity”

Regional Geophysical Surveys commencing March 2011

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Shelby Project

Primary Exploration Target – Mafic / Ultramafic Intrusion Related Ni-Cu-PGE

State Govt (EIS) Co-funding of initial Diamond Drilling commencing April 2011

Targeting Based on Detailed Magnetic and Gravity Data Modelling

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Bryah Basin Region Exploration - Summary

Prospective region for VMS mineralisation – an emerging “Camp”?

Targeting Large Scale Ni, Cu, Au Deposits in Gascoyne Region

Aggressive, focused exploration program in place - planned $10m exploration budget

Continuing to assess new regional opportunities

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Looking Forward – “Growth Platform”

Exciting exploration opportunities

Targeted exploration at Springfield Cu-Au Project

Progress exploration at Shelby-Milgun-Halloween Projects

Participate in the consolidation of the highly prospective Bryah Basin

Expansion of Talisman’s footprint in the Bryah Basin

New growth opportunities

Funding capacity

Execution capability

Focus on quality assets remains

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Australian Copper Conference

March 2011

ASX Code: TLM

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